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Dec 4, 2012
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sperling said, they reduce to the payroll tax last year, in 2011, amounting to $108 billion. it's not by accident of the price of fuel went up and consumed our disposable income in this country. -- about $100 billion of our disposable income. as you can see, the light blue bar, the only way to solve this problem is not to get divorced from the global economy, as canada and norway has showed some it would not make a difference anyway. we need to diversify transportation so that it is not as dependent upon petroleum as is currently the case and this redline on page 9, probably the most important of all, the amount of oil that we can assume per $1,000 of g.d.p. if we can diversify into compressed natural gas and come up with a viable electrification and of trucks and vehicles, those are profound developments which were not possible until very recently. the report that we have here house all three of those things, the maximization of oil. it into saudi arabia levels mean we produce 11 million barrels. not 18.7 million barrels. which is what we are currently consuming. at the same
sperling said, they reduce to the payroll tax last year, in 2011, amounting to $108 billion. it's not by accident of the price of fuel went up and consumed our disposable income in this country. -- about $100 billion of our disposable income. as you can see, the light blue bar, the only way to solve this problem is not to get divorced from the global economy, as canada and norway has showed some it would not make a difference anyway. we need to diversify transportation so that it is not as...
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Dec 1, 2012
12/12
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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Nov 30, 2012
11/12
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the white house feels the president is in a very strong position to play the high cards in terms of tax increases, that's what he wants, that's what the american people said they wanted. look at the exit poll, the president feels that confidence. on the other side, the president feels they have room to push hard against tax increases being too large. we are a long way from a final deal, and it is dangerous and necessary as both sides try to get numbers closer to what their folks will accept. >> david, meanwhile while this is going on, the president is hosting mitt romney for lunch at the white house, first time they have seen each other since the last presidential debate. can you give us any insight beyond they had turkey chili for lunch what went on in that room? >> i was up here in boston, spoke to some romney advisers who described it as a good meeting, important meeting for both sides to do. this is an awkward looking photo. it is still very tough. the feelings if you're on the romney side of the campaign are still pretty raw. one of the things i was told romney made clear is that h
the white house feels the president is in a very strong position to play the high cards in terms of tax increases, that's what he wants, that's what the american people said they wanted. look at the exit poll, the president feels that confidence. on the other side, the president feels they have room to push hard against tax increases being too large. we are a long way from a final deal, and it is dangerous and necessary as both sides try to get numbers closer to what their folks will accept....
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Dec 4, 2012
12/12
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he said, let's lower tax rates, but expand the tax base. you put that on the table for the president. that is at least the second time. host: and what the polls would be taken out? guest: it depends on the process that they go trooper -- they go through the biggest loopholes are by far the exclusion for health insurance. if you are going to design a system from scratch, intertwined the health insurance system with the tax system. we cannot change it overnight and expect it not to collapse. we would need to create some kind of credit for individual health insurance. we should not be taxing savings. you can exempt savings or exempt the yield you get from savings. we would not close that again for raising revenue. it comes down to the political process as to how you are going to get rates lower. but again, the offer is out there from speaker pena. the president has not taken them upon -- speaker dana. the president has not taken empirin. but treasury secretary geithner was on abc this week. let's take a look. [video clip] >> i think we are mak
he said, let's lower tax rates, but expand the tax base. you put that on the table for the president. that is at least the second time. host: and what the polls would be taken out? guest: it depends on the process that they go trooper -- they go through the biggest loopholes are by far the exclusion for health insurance. if you are going to design a system from scratch, intertwined the health insurance system with the tax system. we cannot change it overnight and expect it not to collapse. we...